Kalyani Rafael Advanced Systems bags Rs 287.51 cr order to supply missile systems

Kalyani Rafael Advanced Systems Pvt Ltd on Monday said it has bagged a Rs 287.51 crore order from the defence ministry for the supply of missile systems.

The company is a joint venture between Kalyani Strategic Systems Ltd (a wholly-owned defence subsidiary of Bharat Forge Ltd) and Rafael Advanced Systems Ltd of Israel.

''The order is expected to be executed over the next 12 months,'' Bharat Forge said in a regulatory filing.

The value of the order amounting to Rs 287.51 crore is inclusive of taxes, it added.

Bharat Forge had set up Kalyani Strategic Systems Ltd, a 100 per cent subsidiary, as a flagship company to drive defence business initiatives of the group.